Increase of Minimum Salary/ Adjustment of Socialist Cestaticket
Presidential Decree No. 3.478 of June 20, 2018 was published in Official Gazette No. 6.383 Extraordinary of the same date. Through said Decree the mandatory minimum monthly salary was increased in all of the national territory. The increase entered into effect as from June 16, 2018 and the minimum salary as from said date is as follows:
a) Bs. 3,000,000.00 per month for the workers of the private and public sectors.
b) Bs. 2,250,000.00 per month for adolescents and apprentices.
Said Decree became effective on June 16, 2018.
Also, as a consequence of the readjustment of the Tax Unit (T.U.) from Eight Hundred and Fifty Bolivars (Bs. 850.00) to One Thousand and Two hundred Bolivars (Bs. 1,200.00), published in Official Gazette No. 6.383 Extraordinary of June 20, 2018, the Socialist Cestaticket will be as follows:
Bs. 2,196,000.00 per month, at the rate de 61 T.U. per day for thirty (30) days, which is equivalent to Bs. 73,200.00 per day.
In order to access the aforesaid Decree, please click here.
“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ.”